2026 (2) TMI 26

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....ecting Section 9 application. Appellant was awarded work by the Corporate Debtor for completing PEB structure. The structure was to be completed by June, 2022. There was delay and it was completed in January, 2023. Appellant claiming outstanding amount issued a demand notice to the Corporate Debtor on 15.01.2024 demanding an amount of Rs. 1,31,5221/-. The demand notice was replied on 16.02.2024 giving detailed plea as to how demand is unsubstantiated. In Para 2 of the reply, from (a) to (t), in several sub-paras detailed reasons for not accepting the claim are given. One reason given in Para 2 (m) is that under protest an amount of Rs. 1,45,34,930/- was paid in December, 2022 and in Para 2(q), it was stated that settlement/understanding too....

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....ring huge losses/ damages to our Clients then only in the month of January 2023 i.e., after a delay of over 6 months, your Client provided us with the shed (PEB structure) that too incomplete and without providing receipt with respect to the weight of the material supplied. m. Being completely unsatisfied with the quality of goods and service provided by your Client, our Clients immediately raised grievance with your Client, however the same was turned to deaf ears. Albeit, our Clients have already suffered immense losses owing to your Client's non-performance, to salvage the machinery and the project, the Company paid an amount of Rs. 1,45,34,930/- (Rupees One Crore Forty- Five Lakhs Thirty-Four Thousand Nine Hundred and Thirt....

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....id by the Company to your Client within a period of six (6) months starting from November 2023, subject to deductions of amounts payable by your Client as stated below; ii. Your Client was to provide benefit of the reduced price of raw material (iron) to the tune of Rs. 60,00,000/- (Rupees Sixty Lakhs only) after providing proper weight receipts in respect of the shed (PEB structure) supplied; iii. Your Client was to make payment of Rs. 19,48,468/- (Rupees Nineteen Lakhs Forty Eight Thousand Four Hundred and Sixty Eight only) in consideration of the welding electrodes supplied by the Company's sister concern- Raj Kesari Electrodes Pvt. Ltd. iv. Your Client was to make payment of Rs. 6,17,447/- (Rupees Six Lakh....